Trending: ASML Delivers Solid 2Q in Challenging Market
July 19 2023 - 6:15AM
Dow Jones News
0945 GMT - ASML is among the most mentioned companies across
news items over the past four hours, according to Factiva data. The
Dutch manufacturer of lithography systems for the semiconductor
industry said Wednesday that second-quarter net income slipped
slightly on quarter, though net sales and gross margin--a good beat
to market expectations, reflecting higher deep ultraviolet
shipments, ING analyst Marc Hesselink says in a research note. The
company also hiked its outlook, saying it expects strong growth for
2023, with a net sales increase toward 30% on-year. It had
previously guided for 2023 net sales to grow by more than 25% from
2022. "We expect consensus 2023 revenue and EBIT to move up by a
low-to-mid single digit percentage," Hesselink says. While
customers across different market segments expect a later recovery
of their markets because of greater macro-economic uncertainty,
this is a reassuring set of results overall given market caution on
multiple areas, especially second quarter orders, Jefferies says.
"We continue to expect steadily improving sentiment in the industry
through the second half, leading to a stronger 2024," Jefferies
analysts say in a research note. Dow Jones & Co. owns Factiva.
(joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
July 19, 2023 06:00 ET (10:00 GMT)
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ASML Holding NV (NASDAQ:ASML)
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